Many sellers try to place the “declining monkey” on the back of their agents

February 16, 2010 by Mimi Miller.

Avoid Burnout by Declining the Monkey!
by Jennifer Allan
The other day I had a three-way conversation with two agents who are in the middle of career crises. Both are trying to decide whether to stay or go, interestingly, for opposite reasons. AgentFriend1 has too much business and is burning out and AgentFriend2, well, doesn’t. Have too much business, that is. And she’s burning out, too.

We talked about the causes of their “burnout.” Both agents confessed that they become deeply involved in their clients’ personal situations and get sucked into the emotional drama of it all. Which isn’t uncommon in our business; after all, we ARE deeply involved in the whole situation: if our seller doesn’t have enough equity to properly price; if our buyer’s loan changes and they have to come up with an additional 5% down; if our listing doesn’t appraise and the deal crashes … yes, these events DO affect us both financially and emotionally.

But you can draw a line and preserve your sanity. Terry Watson calls it “the Monkey.” In his live shows, he describes how we wrongly let others put their monkeys on our backs, even though we have our own monkeys to deal with, thank you very much! We real estate agents are really good at accepting our clients’ monkeys as our own.

And you know what? Our clients are HAPPY to give us their monkeys and then blame us when things go wrong. Further, we accept that blame, which puts us in a position where we have to apologize for our inability to solve a problem that wasn’t ours to solve.

Here’s an example. The seller owes $415,000 on his home. The market value is no more than $395,000 and that’s pushing it. In order to break even, the seller needs at least $430,000. The seller “doesn’t want to do a short sale,” so he looks to his agent for another solution. What solution does the agent come up with?

•Price at $439,900 and hope for a miracle

•Reduce her commission to nothing and price at $420,000 (and hope for a miracle)
Of course, there are other solutions, but we monkey-acceptors want to please, so these are the ones we propose. (And then we’re miserable because we have an unsellable product, but that’s another story).

Here’s another example. You interview for a tenant-occupied listing. The seller doesn’t want to inconvenience the tenant, so he asks for a 24-hour showing requirement; day-time showings only; that you attend all showings, and a 60-day possession. You want to please the seller, so you agree, knowing what he’s asking will make the properly unmarketable … and you miserable.

Do too many of these deals and I think burnout IS an inevitability.

Of course, it’s tempted to advise “Well, just thank the %$SOB^# very much for the opportunity, and walk away!”

Sure, that’s an option. But there’s a better way, a way to respectfully decline the monkey and move forward without alienating someone who could be a wonderful client and future referral source. Stay tuned for more!

Published: February 15, 2010

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